Rising for the second straight day, wheat prices advanced by 1.95 per cent to Rs 1,937 per quintal in futures market today as participants enlarged their positions, tracking a firm trend at spot market on rising demand.
At the National Commodity and Derivatives Exchange, wheat for delivery in November month rose by Rs 37, or 1.95 per cent to Rs 1,937 per quintal with an open interest of 11,800 lots.
On similar lines, the wheat for delivery in December month contracts gained Rs 31, or 1.61 per cent to Rs 1,957 per quintal in 2,700 lots.
Analysts said widening of positions by traders, driven by rising demand from flour mills in the spot market against tight stocks position on fall in arrivals, mainly kept wheat prices higher at futures trade.
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